U.S. Reaches Trade Deal With Canada and Mexico, Providing Trump a Crucial Win

Bloomberg News reports:

The U.S. and Canada have agreed on a trade deal that would save the North American Free Trade Agreement as a trilateral bloc, according to three people familiar with the matter.

President Donald Trump has approved the developments and the expectation is that an agreement will be announced on Sunday night, according to the people, who spoke on the condition of anonymity. U.S. Trade Representative Robert Lighthizer and Canadian officials are working on the final touches.

U.S. and Canadian negotiators have been negotiating around the clock this weekend to make a Sunday midnight deadline that would allow the countries to sign the deal as the final act before Mexico’s outgoing President Enrique Pena Nieto leaves office at the end of November.

Reaching a pact with Canada allows the 24-year-old pact to remain trilateral and for the U.S. to check another box for its legislative process in the lead up to a congressional vote.

The new pact is a major step toward completing one of the president’s signature campaign promises.

Politico writes:

Trump indicated last month that he would pursue such tactics, telling reporters in the Oval Office that he would “be terminating the existing deal and going into this deal.”

Several prominent lawmakers, however, expressed cautious optimism with the new pact.

“Maintaining a trilateral North American deal is an important prerequisite to preserving and extending those gains and the Trump administration has achieved that goal,” said Sen. Orrin Hatch (R-Utah), chairman of the Senate Finance Committee. “I look forward to reviewing this deal to confirm it meets the high standards of Trade Promotion Authority.”

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